Sapura Energy says persons in Brazil corruption probe not its employees

FILE PHOTO: A demonstrator holds a Brazilian Flag during a motorcade in support of the "Lava Jato" (Car Wash) corruption investigation in front of headquarters of the Attorney General in Brasilia, Brazil on Sept 6, 2020. - Reuters

KUALA LUMPUR (Bernama) -- Sapura Energy Bhd today clarified that two accused persons who were issued a search and seizure warrant by the 13th Federal Court of Curitiba, Brazil, relating to a Car Wash corruption probe are neither employees or directors of the company.

"No director or employee of Sapura Energy is the subject of the current investigation by the Brazilian authorities,” it said in a media statement.

Nevertheless, it said Sapura Navegacao Maritima SA (SNM), its 50:50 joint venture (JV) in Brazil with Seadrill Ltd is fully cooperating with the Brazilian investigating authorities.

It explained that the JV is a separate entity managed independently of its two shareholders and that to date, SNM has not been contacted by any other authorities.

"Sapura Energy reiterates that at all times, it conducts its business in accordance with the law and best corporate governance, in line with our corporate values of professionalism, honesty and trust,” it said, in regard to the company’s zero-tolerance policy towards bribery and corruption.

As part of good corporate governance, Sapura Energy added that it had initiated its own inquiry to ascertain whether there were any breaches of any laws and non-compliance with its Code of Ethical Conduct.
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